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Discuss // Has anyone used ExecRank to source advisors or find advisory roles?

Has anyone used ExecRank to source advisors or find advisory roles?

I recently got a pitch from ExecRank which helps companies find board members and advisors, and then has members pay about $200/month to search for open board seats and network with other members. I'm skeptical of the model and am more focused on supporting companies I'm already working with right now, but I am curious to hear if anyone's used them and what that experience has been like.

[Update: The answers here are astounding and should give anyone pause before spending any time or money with ExecRank and the like. Thanks all for continuing to share your experiences.]

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I have not used ExecRank but have been on the mailing list for BoardProspects.com - their model is similar, at a similar price. I haven't used them either but you might want to add them to your search if you go that route.

No, we haven't used them. We are still in search of active board members for LIF.
Good to hear from you. I hope all is well. If there is anything we can do for you, just let me know.
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Ash & David. I actually decided to sign-up (albeit very recently) with ExecRank. I have a number of companies that are seeking advisors or Board Members, in areas where my expertise and background matches. But it is early days as to how this develops. If there are other ways to connect I would welcome feedback, but I do not have enough progress to comment as to the success or concerns.

I am guessing that they are pitching to executives of smaller companies on LinkedIn. I got the pirtch today and chose not to go with it. Their business model, as it was explained to me (or how I interpreted their explanation anyway) was that their services were free to companies seeking board members but that they charged a monthly fee to "members" seeking board positions. Those members would then have their profile's available in their database and could "apply" to become members of boards where they thought their services could be utilized. Now my understanding is that companies needing to fill board positions typically use a search firm to provide selections from which they choose and pay the search firm a fee to find qualified candidates. In the execurank model the companies pay no fee but the applicants pay a monthly membership fee. So it seems to me they are turning the traditiona board search model on its head. I'm not sure I would want just anybody applying to fill my board slots -- certainly not for board positions where remuneration could be, as the salesmen pitching to me suggested--$70,000 per year for about 40 hours worth of work. Since they obtain their revenues from the membership fees, I am not at all sure that the qualifications of the members would be adequately vetted. A background search on the person pitching to me indicated they were previously in autosales.

Now this might be a disruptive way to fill unfilled board seats. I don't know. But I doubt that the salesmen know either and their job is to obtain paying members rather than to fill board seats. I chose not to join because philosophically I think board seats are/should be offered rather than applied for. I feel uncomfortable having to pay to be in the pool to which those offers are given. It may be that they once made those offers at the country club. But one didn't join the country club to get the offer. I welcome other perspecties But I'm not convinced this is a viable business model.

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